Business model generation in the Internet of Things (IoT) universe

The Internet of Things (IoT) changes everything, especially how we go about crafting and testing business models. “To take advantage of new, cloud-based opportunities, today’s companies will need to fundamentally rethink their orthodoxies about value creation and value capture”, writes Gordon Hui in his recent HBR article. We need to focus on emergent needs not just in real-time but on a predictive basis. This will take much deeper thinking about a business’s linkages than has been the norm.